Vice-President Yemi Osinbajo has revealed that the country has reduced its dependence on oil exports in its diversification drive to boost revenues.
Osinbajo made this comment on Thursday during his speech when he hosted a delegation of the (Nigeria Export Promotion Council (NEPC$ led by its outgoing Chief Executive Officer, Mr. Segun Awolowo, at the Presidential Villa in Abuja.
According to a statement issued by the Senior Special Assistant to the President on Media and Publicity in the Office of the Vice-President, Osinbajo said: “We are set on the right path, and I like the fact that we are focused on non-oil exports. We are facing the challenges and we are facing them head-on.
“We are certainly getting away from the oil and gas era. We used to think that it will take a while, but today, the circumstances have changed.”
“In the next few years, those of us who are policymakers and looking at the future, must, today, have a plan. In fact, we have set ourselves on an inevitable course of a zero-oil plan.”
Osinbajo hailed Awolowo for his foresight, saying: “I really want to commend you for your foresight, for putting in place a plan that is very well structured and detailed.
“It is very important to note that we are certainly getting away from the oil and gas era. In the past, we used to think that it would still take a while. But today, with the circumstances and all of the various factors around the world (less dependence on oil, Climate Change, and COP), it is inevitable.”
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